Polen Capital Management 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Polen Capital Management disclosed 231 US equity positions worth $23.4bn in its Q4 2025 13F filing. The largest position was AMZN at 8.5% of the reported book, followed by MSFT and ORCL. Against the Q3 2025 filing, it opened 2 new positions, added to 7 and reduced 41 among the top 50 holdings.
What did Polen Capital Management own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | AMZN AMAZON COM INC | Consumer Cyclical | 8.5% | $2.0bn | 8,653,721 | -23% | reduced |
| 2 | MSFT MICROSOFT CORP | Technology | 8.1% | $1.9bn | 3,909,985 | -22% | reduced |
| 3 | ORCL ORACLE CORP | Technology | 6.0% | $1.4bn | 7,185,496 | -23% | reduced |
| 4 | LLY ELI LILLY & CO | Healthcare | 5.7% | $1.3bn | 1,246,090 | -23% | reduced |
| 5 | GOOG ALPHABET INC | Communication Services | 5.4% | $1.3bn | 4,018,121 | -13% | reduced |
| 6 | AVGO BROADCOM INC | Technology | 5.2% | $1.2bn | 3,531,637 | -21% | reduced |
| 7 | MA MASTERCARD INCORPORATED | Financial Services | 5.2% | $1.2bn | 2,131,727 | -22% | reduced |
| 8 | V VISA INC | Financial Services | 5.1% | $1.2bn | 3,375,342 | -22% | reduced |
| 9 | SHOP SHOPIFY INC | Technology | 5.0% | $1.2bn | 7,201,872 | -35% | reduced |
| 10 | NVDA NVIDIA CORPORATION | Technology | 4.2% | $993.7m | 5,328,112 | -15% | reduced |
| 11 | NOW SERVICENOW INC | Technology | 3.7% | $870.2m | 5,680,788 | 405% | added |
| 12 | MSCI MSCI INC | Financial Services | 3.3% | $763.7m | 1,331,085 | -16% | reduced |
| 13 | ZTS ZOETIS INC | Healthcare | 3.0% | $699.9m | 5,562,669 | -26% | reduced |
| 14 | AON AON PLC | Financial Services | 2.8% | $651.5m | 1,846,294 | -26% | reduced |
| 15 | IDXX IDEXX LABS INC | Healthcare | 2.8% | $649.8m | 960,537 | -15% | reduced |
| 16 | SBUX STARBUCKS CORP | Consumer Cyclical | 2.4% | $571.4m | 6,785,308 | -24% | reduced |
| 17 | ACCENTURE PLC IRELAND | 2.2% | $505.1m | 1,882,707 | -24% | reduced | |
| 18 | ABT ABBOTT LABS | Healthcare | 2.1% | $496.4m | 3,962,230 | -47% | reduced |
| 19 | ISRG INTUITIVE SURGICAL INC | Healthcare | 2.0% | $477.2m | 842,618 | – | new |
| 20 | ADBE ADOBE INC | Technology | 2.0% | $470.9m | 1,345,588 | -28% | reduced |
| 21 | ABNB AIRBNB INC | Consumer Cyclical | 1.8% | $411.3m | 3,030,730 | -24% | reduced |
| 22 | SNPS SYNOPSYS INC | Technology | 1.7% | $396.9m | 844,881 | -19% | reduced |
| 23 | BSX BOSTON SCIENTIFIC CORP | Healthcare | 1.6% | $383.3m | 4,019,552 | -28% | reduced |
| 24 | ISHARES TR | 1.6% | $367.3m | 776,086 | 241% | added | |
| 25 | INTU INTUIT | Technology | 1.5% | $339.6m | 512,656 | -23% | reduced |
| 26 | CSGP COSTAR GROUP INC | Real Estate | 1.4% | $328.9m | 4,890,936 | -23% | reduced |
| 27 | PAYC PAYCOM SOFTWARE INC | Technology | 1.2% | $292.4m | 1,835,028 | -30% | reduced |
| 28 | UBER UBER TECHNOLOGIES INC | Technology | 1.2% | $291.4m | 3,565,793 | -22% | reduced |
| 29 | MELI MERCADOLIBRE INC | Consumer Cyclical | 0.4% | $96.5m | 47,920 | -3% | reduced |
| 30 | ISHARES TR | 0.4% | $86.3m | 610,133 | 220% | added | |
| 31 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 0.3% | $61.0m | 200,593 | 13% | added |
| 32 | SAP SAP SE | Technology | 0.2% | $56.7m | 233,332 | -32% | reduced |
| 33 | SPOT SPOTIFY TECHNOLOGY S A | Communication Services | 0.2% | $41.6m | 71,658 | 547% | added |
| 34 | NU NU HLDGS LTD | Financial Services | 0.1% | $19.4m | 1,157,836 | -25% | reduced |
| 35 | ICLR ICON PLC | Healthcare | 0.1% | $19.2m | 105,206 | -76% | reduced |
| 36 | NFLX NETFLIX INC | Communication Services | 0.1% | $16.3m | 173,797 | -64% | reduced |
| 37 | VANGUARD INDEX FDS | 0.1% | $16.2m | 33,124 | 185% | added | |
| 38 | HDB HDFC BANK LTD | Financial Services | 0.1% | $13.4m | 367,007 | -38% | reduced |
| 39 | ASML ASML HOLDING N V | Technology | 0.1% | $12.0m | 11,195 | -43% | reduced |
| 40 | MNDY MONDAY COM LTD | Technology | 0.0% | $11.7m | 79,332 | -37% | reduced |
| 41 | GOOGL ALPHABET INC | Communication Services | 0.0% | $9.7m | 30,864 | -93% | reduced |
| 42 | IVV ISHARES TR | 0.0% | $9.4m | 13,669 | – | new | |
| 43 | ON HLDG AG | 0.0% | $9.0m | 194,483 | -25% | reduced | |
| 44 | WTW WILLIS TOWERS WATSON PLC LTD | Financial Services | 0.0% | $9.0m | 27,425 | -88% | reduced |
| 45 | ISHARES TR | 0.0% | $8.5m | 126,761 | 106% | added | |
| 46 | MDT MEDTRONIC PLC | Healthcare | 0.0% | $8.1m | 84,500 | -32% | reduced |
| 47 | AGX ARGAN INC | Industrials | 0.0% | $7.8m | 24,886 | -34% | reduced |
| 48 | WGS GENEDX HOLDINGS CORP | Healthcare | 0.0% | $7.8m | 59,861 | -12% | reduced |
| 49 | TME TENCENT MUSIC ENTMT GROUP | Communication Services | 0.0% | $7.2m | 412,467 | -27% | reduced |
| 50 | DLO DLOCAL LTD | Technology | 0.0% | $6.6m | 466,809 | -33% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.